Mobile phone maker FIH Mobile Ltd warned on Monday its consolidated net profit would more than halve this year as weaker sales dent business at the Hong Kong-listed unit of Hon Hai Precision Industry Co . The pressures have also been felt at FIH's Taiwan-based parent Hon Hai, which is the world's biggest electronics manufacturer and goes by the trade name Foxconn. A major assembler for Apple Inc's iPhones, Foxconn's net profit has fallen year-on-year every quarter since the last three months of 2015.

The arm of Foxconn Technology Group that makes smartphones for Chinese vendors including Huawei Technologies Co. and Xiaomi Corp. warned net income will slide at least 52 percent in 2016, expected to be ...